Member Info for ScottJ

The contact was described as once a week call, so 25 weeks and 6 days of : Hi, can you give us $80m....No.

Not exactly working night and day for a company that had a near £1m wage bill and at the end of every rns a plethora of advisors on the payroll.

BP, they are not investing time or energy, nothing much has been done or happened in the last 6 months, they are on holiday. The silence is because there is nothing to report.

Therein lies the problem Trek, imo. The board cannot see it and have been stubborn and now issuing shares like confetti to service credit card debt without any plan to move the project further. A near zero chance of bonds and after years of trying…no sign of a change of direction, leaving it too late to salvage anything.

The slim 1–5% feasibility window assumes outliers like government subsidies, hyper-growth projections (e.g., 10x revenue in 12 months), or collateralized assets covering the debt. Otherwise, it's effectively impossible without restructuring (e.g., converting to equity or bankruptcy)

In summary, this isn't just "hard"—it's borderline unfeasible for a small-cap firm. Alternatives like equity dilution, asset sales, or phased smaller debt ($1–5m) would be far more realistic. If this is a hypothetical for a specific industry or scenario, more details could refine the assessment.

Grok: Q: how hard would it be for a £5m mcap company to sell $80m in bonds.

Based on leverage benchmarks and market dynamics, I'd rate the overall difficulty at 95–99%. 95%+ barrier from pure financial imprudence: This exceeds maximum sustainable leverage by 4–6x, per covenant norms (e.g., Debt/EBITDA

Stan - at no point has your confidence in this company or board been met with actual reality as regards any permit, finance suitors or board ability to turn any words into action like last years permitting, I hope you are correct but I'd suggest a more cautious tone until pxc break the trend of under (not) delivering. You previously thought;

June 25: those taking a position today at 5p will look very smart in a few weeks time.

Dec 24: remains a confidence that someone, somewhere will fund this.

Nov 24: we've got ourselves the possibility of a much larger development in play (m&a)

Oct 24: NIU will deliver and are fully supportive of the company

The portfolio is very valuable, but only to those shareholders (not diluted into oblivion) who develop it, it remains to be seen who they are.

It seemed cheap at 20p last summer, 11p etc but in hindsight, for good reason, this years dilution has been quite brutal issuing at 4,3 and 2.7p with directors not taking part.

AIM is a different landscape compared to post covid 2021/2022 when everyone was at home with gov money in the casino Andrew, there are very, very few new young faces with excess capital looking at the alternative UK market, in my opinion. If the US investor comes through it would be in spite of the boards actions, not because of them, but as I say, excellent risk/reward for new folk after a -92.49% loss in 5 years.

As for the 'share count being lower than other companies', I thought we were having a serious conversation but it appears not.

Why would anyone use the word easily, 10x and pxc - that's just not the real world or even believable - pxc can't rerate back to 20/25p in this world due to the share issuance even if the bod retained trust, keep to positive but also keep it realistic. The people buying pxc today will likely do very well, but lth's have been destroyed.

April 2024 149 million shares in issue, pre finance.

Aug 2025 241 million shares in issue, pre finance.

US investor comes good then 20p in old money is 12.5p today and that's a great target and risk/reward, a rerate from 3p to 10/12p offers excellent return for new gamblers, less so for long term holders mitigating losses and certainly no chance for the £30m that invested at 35p to take Empire to production.

Incorrect Copper1, 17.07 print most days is the net spreadbets from spreadex.

That's just the net spread bets for the day at get printed at 17.07, not one trade - but bullish and good volume today.

They have been doing analysis of core samples taken last yr to get best recovery method, changed plan from just mining copper in yr 1 to copper, gold and silver so delayed permit application. Will be building mine on patented land this year so permit is just for tailings etc - will be submitted within weeks for approval next yr, imo. So awaiting funding to begin the build.

Trek, after the raise to say "Now it’s an initial $80m." is completely wrong.

We don't yet have the numbers for improved profitability or capex reduction but that statement is incorrect.

Https://www.judiciaryni.uk/judicial-decisions

It's not even in the realms of a possibility.

Hit nav pretty much so always a risk of a raise for 2023 allocation from KAP, but nice to see it do well.

not sure if you are playing at, or are a tad ******ed mtsparky but you are using a mixture of flat out lies and half truth's.

"it doesn’t look like there is a plan b"

- you know that's not true, if the cornerstone fell through the plan b is to list the bonds in new york, so untrue.

"they need to pay off riverfort which they do not have the funds to do"

- from our accounts you can tell we do have the funds, tight though it would be, so untrue.

"…if you don’t need money from riverfort you don’t take it.why self destruct for no reason?"

- no reason? ... i'll let you answer this one yourself mt - you answer that question here:

"they only had enough cash for basic overheads not exploration et al costs."

- so that's why riverfort was taken - as security to allow navarre to progress in the coming weeks.

"we believe that the issue will be fully subscribed" also quite important. $80m

BKT estimate it will cost $33m to put in a power line to Mahenge, probably worth taking advantage of, by not being first (no danger of that!) leaving it to the large capex leading project in the area.

Yes, broker will move your shares from trading account into ISA to use new year allocation without you manually having to do it.

Bed & ISA which brokers can do for you like IG for £30 - gets executed at lower end of the spread within 30 seconds.

Trek, re: bonds being secured, it has been rns'd
"The Bonds will be secured on the Company's patented mining claims in so far as they relate to the Empire Open Pit Mine."

As regards coupon costs - it would be ideal if we can draw in stages and pay in relation to the amount drawn down which could alleviate some of that early cost concern, but that remains to be seen.